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AJ+ Why UBI Isn’t Progressive

Summary:
Who doesn't want free money? Sure, a universal basic income (,000 a month with "no strings attached") sounds like a good idea. But under presidential candidate Andrew Yang's plan, a UBI would replace government benefits and would be paid for by the working class, not the rich. Newsbroke's Matt Lieb explains how the "Freedom Dividend" is simply a way to maintain the current economic status quo. [embedded content]

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Who doesn't want free money? Sure, a universal basic income ($1,000 a month with "no strings attached") sounds like a good idea. But under presidential candidate Andrew Yang's plan, a UBI would replace government benefits and would be paid for by the working class, not the rich.

Newsbroke's Matt Lieb explains how the "Freedom Dividend" is simply a way to maintain the current economic status quo.


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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